Updated Sep 9, 2024
Lee M. Weinstein Acquires Multifamily Property In North Hollywood For $1.11M
11611 Burbank Boulevard
$1,110,000
$365/SF
Building Size
3,034 SF
Asset Type
MultiFamily
Closing
Jan 18, 2023
About this deal
AI
Located at 11611 Burbank Blvd. in North Hollywood, this multifamily property recently changed hands in a sales transaction. The property spans 3,034 square feet, offering spacious living areas to its residents. The sale price for this asset was $1,110,000, translating to a price per square foot of $366.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,110,000
- Market: North Hollywood
- Address: 11611 Burbank Blvd.
- Square Footage: 3,034
Lee M. Weinstein acquired this multifamily property from Raffic George Mikaelian. Vinny Jain of Ingenious Asset Group, Inc represented both parties in the transaction, ensuring a smooth deal for all involved.
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.29%
Cash-on-Cash
-4.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93